Monday, May 08, 2006

Washington Group International Reports ($$$)

Washington Group International Reports First Quarter Net Income of $19.0 Million ($0.62 Per Diluted Share) and Raises Net Income Guidance for 2006

BOISE, Idaho, May 8 /PRNewswire-FirstCall/ -- Washington Group International Inc. WGII today announced financial results for its first quarter ended March 31, 2006.

"We are pleased with our strong start to 2006," said Stephen G. Hanks, president and chief executive officer. "Net income in the first quarter rose 18 percent to $19.0 million compared to $16.1 million in the first quarter last year, as we benefited from growth in our oil and gas business as well as continued strong performance by our Power, Defense, and Energy & Environment business units.

"New work awarded during the quarter totaled $798.3 million. Key awards included additional task orders in Iraq, a contract for jointly managing the Los Alamos National Laboratory for the U.S. Department of Energy (DOE), new clean air power plant modification awards, and additional funding for chemical demilitarization programs for the U.S. Department of Defense."

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